ISRA targets Israeli companies of all cap sizes regardless of listing venues, this will explain exposure to companies outside Israel. To be considered as an Israeli company, the index provider, BlueStar, will select stocks based on a range of quantitative and qualitative factors such as: location of headquarters, percentage of revenue or long-lived assets in Israel, location of incorporation and tax jurisdiction, location of R&D facilities, and location of the companys management team and Board of Directors. Besides liquidity and market cap screens, various exclusionary screens are applied: REITs, and Tel Aviv Stock Exchange-listed Limited Partnerships, OTC securities, holding companies (in general) are excluded. At each semi-annual rebalance, index constituents will be capped at 10% and will be finalized by BlueStars Index Advisory Committee.
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